View Full Version : 3-month SOR and 2-month Sibor hits new high
Source: Straits Times Online
Date: 15 Dec 2015
SINGAPORE - Local interest rates are inching up and investors are on edge as the countdown to Thursday's decision by the United States Federal Reserve begins in earnest.
It is widely expected that the Fed will raise interest rates from near-zero levels - the first such rise in nine years - and the effects are already rippling through Singapore's financial and currency markets.
The greenback has strengthened against the Singdollar. More importantly, for mortgage holders and business owners, the cost of lending is going up.
The three-month swap offer rate (SOR), a benchmark for commercial loans and some home loans, spiked to a new three-month high of 1.59168 per cent yesterday from 1.50597 per cent last Friday and 1.39520 per cent on Thursday. The previous high was at 1.56409 per cent on Sept 8.
It is now almost four times higher than at this time last year.
It is a similar story with the three-month Singapore interbank offered rate (Sibor). The Sibor, which is used extensively to price home loans, hit a two-month high of 1.12865 per cent yesterday and is now almost three times higher than its level 12 months ago.
This means the monthly repayments on a $500,000 loan with a 25-year period pegged to Sibor will be $168 more than a year ago, while one pegged to the three-month SOR will be $262 more.
The US rate hike has been flagged for several months, during which a rising number of home owners have switched to fixed-rate mortgages, and a new product pegged to fixed deposit rates was launched.
SOR loans became popular around 2010-2011, when SOR started to dip below Sibor.
Most home loans extended by DBS Bank, Singapore's largest provider of mortgages, are pegged to Sibor, with fewer than 500 based on SOR, said Mr Tok Geok Peng, its executive director of secured lending.
Personal finance portal MoneySmart.sg estimates that 45 per cent of mortgages are pegged to fixed deposit rates, 50 per cent to Sibor and the remainder to SOR, based on loan take-ups in the past two months.
ABN Amro chief economist Han de Jong noted that this will "undoubtedly be one of the best flagged rate increases ever, so it is hard to see how people can be caught off guard, but you never know".
DBS Bank economist Eugene Leow said: "We expect a 25-basis point hike but much of this has already been priced into the market.
"We suspect that Sibor and SOR rates will likely rise by a smaller magnitude than US rates."
DBS sees Sibor at 1.4 per cent by the first quarter next year.
The rate talk has also hit stocks and currencies as investors wait on the sidelines for a decision. The US dollar rose from 1.4095 to the Singdollar last Friday to 1.4129 yesterday while local share investors, who seem determined to keep their powder dry until later in the week, left the benchmark Straits Times Index down 0.69 per cent yesterday.
If you haven't now would be a good time to look into your refinancing options. If you need advice, please send me a PM and I'll be glad to help.
proud owner
06-01-16, 23:32
Hold your horses ....
rates are higher, in particular, 2mth and 3mths .....due to ................................
Lunar new year effect ...
its an annual 'event' ... chinese will withdraw lots of cash ... new notes ... for chinese new year ... hence rates will be higher ..
the above article was written in Dec 2015 ...hence 2mth and 3mths ( crosses the CNY period) went up..
Now that we are in Jan ..and CNY is early Feb 2016 ... so expect Sibor 1 mth to remain high ... while 2mth will come off ....
notice 3mths and above not moving right ?
MortgageGuru
07-01-16, 10:51
There's no 2 month sibor in the market, the reason why 1 month sibor may be higher is due to it being calculated based on one month reference, thus the volatility and impact being more visible compared to 3 months whereby it's the average for the past 3 months.
3 month sibor means past 3 months average, it is NOT what is expected in 3 months time.
For example, curent 12 month sibor is at about 1.3% but it does not mean by forecasting December sibor to be around 1.3%.
It derives from the past 12 months sibor average.
There's no 2 month sibor in the market, the reason why 1 month sibor may be higher is due to it being calculated based on one month reference, thus the volatility and impact being more visible compared to 3 months whereby it's the average for the past 3 months.
3 month sibor means past 3 months average, it is NOT what is expected in 3 months time.
For example, curent 12 month sibor is at about 1.3% but it does not mean by forecasting December sibor to be around 1.3%.
It derives from the past 12 months sibor average.
"In the United States, many private contracts reference the three-month dollar LIBOR, which is the index resulting from asking the panel what rate they would pay to borrow dollars for three months."
I thought SIBOR and LIBOR works the same way. By asking the panel for future interest rate pricing.
proud owner
08-01-16, 23:44
"In the United States, many private contracts reference the three-month dollar LIBOR, which is the index resulting from asking the panel what rate they would pay to borrow dollars for three months."
I thought SIBOR and LIBOR works the same way. By asking the panel for future interest rate pricing.
yes you are correct ...while MortgageGuru is wrong...
SIBOR or LIBOR or Whatever-bor is the rate for that particular tenor..
in the actual money market, there are :
O/N ( over night), T/N Tomorrow-next, S/N Spot Next,
1wk 2wk 3wk 1mth 2mth 3, 4 , 5, 6 9, 12mths ...
its just that the banks do not offer ALL the tenors for housing loans...
please check back on past entries that i have posted.
i did give a detailed explanation of what is SIBOR and how they are derived ...
MortgageGuru's definition of 3mth sibor is totally wrong.
it is NOT the past 3mths average ... nor have i said it was what's expected in 3mths time.
MortgageGuru
09-01-16, 02:26
My apology on the 3 month sibor issue, been busy recently thus the wrong information.
Sibor rates are derived by participating banks submitting their calculation for the relevant period and average out by ABS.
As to how they derived at the calculation, I have no idea about it though.
My apology on the 3 month sibor issue, been busy recently thus the wrong information.
Sibor rates are derived by participating banks submitting their calculation for the relevant period and average out by ABS.
As to how they derived at the calculation, I have no idea about it though.
To err is human
To err is human
And....to smoke is salesman....
Even after making a mistake still want to cover up by claiming one is busy. Fundamentals one do not mistake even when sleeping. Shows a lot about the quality of such a sales person whose objective is just to earn commission. Nothing against an honest living but to smoke ones way through life leaves a bad taste.
And....to smoke is salesman....
Even after making a mistake still want to cover up by claiming one is busy. Fundamentals one do not mistake even when sleeping. Shows a lot about the quality of such a sales person whose objective is just to earn commission. Nothing against an honest living but to smoke ones way through life leaves a bad taste.
So after Sibor stabilised, is it better to loan in Sibor or other mortgage packages?
MortgageGuru
09-01-16, 17:10
And....to smoke is salesman....
Even after making a mistake still want to cover up by claiming one is busy. Fundamentals one do not mistake even when sleeping. Shows a lot about the quality of such a sales person whose objective is just to earn commission. Nothing against an honest living but to smoke ones way through life leaves a bad taste.
Hi, not sure if you're referring to me, but if it is... I'd like to clarify as I've been busy recently and probably I replied when I wasn't on 100% focus.
I do not understand the rationale of you picking on me as I didn't hold any ill-intent or like what you said about commission driven and thus not keeping the interest of consumer at heart.
It does not serve any purpose or increase any sales when I mentioned about sibor.
I have nothing to hide. Please don't take it personal.
I'm here sharing info, helping others and helping myself at the same time too. You don't have to be negative.
http://www.businesstimes.com.sg/government-economy/singapore-interest-rates-continue-to-rise-as-worries-over-china-persist
The benchmark three-month Singapore interbank offered rate (Sibor), typically used to price home loans, rose for the fourth consecutive day to 1.25200 per cent on Wednesday;
So Fed rate increase only 0.25%, and SIBOR went up by 0.85% !
Wow!
Going by this rate, if Fed rate may go up to 3.5%, SIBOR may go up to 11.9% !
http://www.businesstimes.com.sg/government-economy/singapore-interest-rates-continue-to-rise-as-worries-over-china-persist
The benchmark three-month Singapore interbank offered rate (Sibor), typically used to price home loans, rose for the fourth consecutive day to 1.25200 per cent on Wednesday;
PropVestor
22-01-16, 13:28
So Fed rate increase only 0.25%, and SIBOR went up by 0.85% !
Wow!
Going by this rate, if Fed rate may go up to 3.5%, SIBOR may go up to 11.9% !
I am not sure our SIBOR is that closely tied to Fed rates. SIBOR has shifted even before Fed's have done so. It is anticipatory rather than reactive.
Is SIBOR another case of when Fed rate goes down to 0.25%, it takes a LONG LONG time to reach even 0.4%.
However, before Fed rate even goes up, it quickly climbed to almost 1% already!
Wow! Anticipatory indeed! Another case of head or tail the bankers always win???????
I am not sure our SIBOR is that closely tied to Fed rates. SIBOR has shifted even before Fed's have done so. It is anticipatory rather than reactive.
proud owner
22-01-16, 22:03
I am not sure our SIBOR is that closely tied to Fed rates. SIBOR has shifted even before Fed's have done so. It is anticipatory rather than reactive.
rates are fixed based on liquidity situation.
med to long term rates are priced based on "expectations'..
if mkt expects FED to keep raising rates, then it will be priced much higher.
It depends on the different views of each banks' economists and analysts.
I personally feel we are too "ahead' of the curve ...
Fed may not hike more than what mkt expects, base on current economic numbers..
which is why i am always against taking FIX rate loans ... go for floating rates ...
But if they can also fix the floating, nothing is floating really.
rates are fixed based on liquidity situation.
med to long term rates are priced based on "expectations'..
if mkt expects FED to keep raising rates, then it will be priced much higher.
It depends on the different views of each banks' economists and analysts.
I personally feel we are too "ahead' of the curve ...
Fed may not hike more than what mkt expects, base on current economic numbers..
which is why i am always against taking FIX rate loans ... go for floating rates ...
Let me throw a spanner: Is fixed rate really "fixed"?
People who think they can benefit from fixed rate loans - Are they planning to redeem in full when their fix rate expires at the end of 2nd or 3rd year?
If not, why take "fixed" rate which is not really "fixed"?
Do they realize that once their "fixed" rate period is over, they always pay a MUCH HIGHER spread than others who took floating rate from a start?
If they intend to take 10 years or more to pay off a loan, do they sincerely believe that they can benefit from those so-called "fixed" rate loan with MUCH higher spread once the fixed rate period expires??????
Just a rough gauge:
1) Fixed rate loan at 1.99% for 3 years.
2) Subsequently 3M-SIBOR at spread 1.5% (basically 0.5% more than somebody who take up floating rate from the start).
Say first 3 years save 0.2% interest p.a. or 0.6% total over 3 years.
Then pay 0.5% more per year for next 20 years or 10% total more over 20 years!
Wow! Does "fixed" rate loan seem really good deal now???? :monkey:
No spanner really. Fixed can float and float can be fixed. The difference over many years with interest roller coaster may not be much difference.
Let me throw a spanner: Is fixed rate really "fixed"?
People who think they can benefit from fixed rate loans - Are they planning to redeem in full when their fix rate expires at the end of 2nd or 3rd year?
If not, why take "fixed" rate which is not really "fixed"?
Do they realize that once their "fixed" rate period is over, they always pay a MUCH HIGHER spread than others who took floating rate from a start?
If they intend to take 10 years or more to pay off a loan, do they sincerely believe that they can benefit from those so-called "fixed" rate loan with MUCH higher spread once the fixed rate period expires??????
Just a rough gauge:
1) Fixed rate loan at 1.99% for 3 years.
2) Subsequently 3M-SIBOR at spread 1.5% (basically 0.5% more than somebody who take up floating rate from the start).
Say first 3 years save 0.2% interest p.a. or 0.6% total over 3 years.
Then pay 0.5% more per year for next 20 years or 10% total more over 20 years!
Wow! Does "fixed" rate loan seem really good deal now???? :monkey:
MortgageGuru
23-01-16, 11:20
It's unfair to say that the thereafter will be 0.5% higher for the next 10-20 years down the road as I believe not many people are ignorant to leave it hanging there.
SIBOR is volatile, anytime you can be paying much higher than fixed rates.
From example people that took up fixed rate at 1.25%,1.45%,1.55% on 2015 Jan.
Their commencement date 2015 April upon serving 3 months notice.
So.. April, they're paying 1.25%, that's about the same as people who are on 3M SIBOR +0.8% SPREAD which goes to about 1.2%-1.4% area.
As of today, 3M SIBOR takers are paying approximately 2% based on current spread while fixed rate holder still on 1.25% until April.
There's already proven savings just on the first year, but, let's be conservative. We just compare the 2nd and 3rd year will do.
Based on 500k loan amount at 25 years tenure from 2nd year onwards and assuming interest stays stagnant.
The 2 years interest savings is already $4.8k.
Assuming before the commencement of the 2nd year sibor package is at 2.5% effective rate, the savings will double up.
I've said many times, there's no point in getting a low spread when the variable is volatile, especially in a upward trend now.
Even if the spread for sibor is 0.3% there won't be much taker either.
If taking a low spread is indeed good, why would bank drop their spread for sibor when interest rate is rising?
Sibor was going at 0.8-0.9 spread in 2014-15 when interest from speculation to slow rise.
And yet some banks are offering the spread to be at 0.6%-0.7%.
It doesn't makes sense.
To add on, the reason why people took up fixed rate is because that they can't foresee what's gonna happen 10 years down the road. They might just want to hold on the property for a couple of years and sell it off, take the earlier fixed rate for example. If they hold on to sibor for 3 years, they'd be making a loss of 10k.
It's like holding on to the one dollar that let you buy foods and drinks to last a week in 1960s to 2016 now whereby one dollar can probably buy you a can of coke if you're lucky to find a machine that don't charge coke at $1.20.
Can't be 100% sure FED will raise 0.25% every Q wef Mar till Dec x 4times.
Global market is definitely behaving weird. EM is struggling. US might be affected.
Based on current World Economic Climate. Floating still a better Option.
Dbs FHR going increased rate for mortgagees on previous 0.4% + Spread wef 1/3/16.
proud owner
28-01-16, 02:40
Can't be 100% sure FED will raise 0.25% every Q wef Mar till Dec x 4times.
Global market is definitely behaving weird. EM is struggling. US might be affected.
Based on current World Economic Climate. Floating still a better Option.
Dbs FHR going increased rate for mortgagees on previous 0.4% + Spread wef 1/3/16.
FED on hold this FOMC...
some think 3 hikes (i/o 4), while others think we will only see 1 hike the entire 2016...
Think all will depend on US economy direction.......
My bet: At most 1 more or possibly even 0 for the remaining of 2016..........
Oh, if so, those who take up Fixed Rate loan in the short-end! Ouch!
Those who take up Fixed Deposit pegged loan (eg FHDR) with super high spread for long term also at short end! (Wow! DBS make big money!)
And all those "anticipation" about rate increase and SIBOR being jacked up by banks like no tomorrow - consumers also at the short end!
FED on hold this FOMC...
some think 3 hikes (i/o 4), while others think we will only see 1 hike the entire 2016...
MortgageGuru
28-01-16, 09:40
Think all will depend on US economy direction.......
My bet: At most 1 more or possibly even 0 for the remaining of 2016..........
Oh, if so, those who take up Fixed Rate loan in the short-end! Ouch!
Those who take up Fixed Deposit pegged loan (eg FHDR) with super high spread for long term also at short end! (Wow! DBS make big money!)
And all those "anticipation" about rate increase and SIBOR being jacked up by banks like no tomorrow - consumers also at the short end!
Ain't what you say basically that all borrowers are at the short end?
That's like 讲有讲没有?
Ain't what you say basically that all borrowers are at the short end?
That's like 讲有讲没有?
u don't know the bear is LPPL one meh?
You still don't understand?
If the banks are in collusion, the consumers will get screwed!
Just like the relentless rise of SIBOR despite nothing significant to have caused it.........
Ain't what you say basically that all borrowers are at the short end?
That's like 讲有讲没有?
MortgageGuru
29-01-16, 23:00
You still don't understand?
If the banks are in collusion, the consumers will get screwed!
Just like the relentless rise of SIBOR despite nothing significant to have caused it.........
Why didn't you say bank colluded to earn as low as possible for the last 8 years?
Colluded to earn as low or earn as much as possible?
Why didn't you say bank colluded to earn as low as possible for the last 8 years?
MortgageGuru
30-01-16, 17:28
Colluded to earn as low or earn as much as possible?
Low, as they kept the interest low.
Are they out colluding to earn as low as possible? Why don't they raise the interest rate back then?������
Your comments is laughable.
You mean they are doing charity to keep the interest rate low?
And how much are they paying in deposit rate if they are charging that low rate + a 1% (or more) margin?
No wonder some have to come with "creative" loan packages other than SIBOR pegged....
You still don't understand how the rate is being derived that is why it is so low?
Low, as they kept the interest low.
Are they out colluding to earn as low as possible? Why don't they raise the interest rate back then?������
MortgageGuru
31-01-16, 14:41
Your comments is laughable.
Oh, if so, those who take up Fixed Rate loan in the short-end! Ouch! Those who take up Fixed Deposit pegged loan (eg FHDR) with super high spread for long term also at short end! (Wow! DBS make big money!)
And all those "anticipation" about rate increase and SIBOR being jacked up by banks like no tomorrow - consumers also at the short end!
You were saying the above were laughable?
I agree.
It's like..
If you are born in a rich family, you will die...
If you are born in a poor family, you will die...
If you are born in singapore, you will die...
If your parent is a teddybear, you probably won't die then.
I do recall the movie Ted, whereby the Teddybear didn't die.
thomastansb
01-02-16, 09:18
You prata king ah. Say banks colluding with each other (to raise SIBOR) to screw consumers. Then when you realise interest rate has been so low for the past 7-8 years, now sing another tune. Really joker.
Your comments is laughable.
You mean they are doing charity to keep the interest rate low?
And how much are they paying in deposit rate if they are charging that low rate + a 1% (or more) margin?
No wonder some have to come with "creative" loan packages other than SIBOR pegged....
You still don't understand how the rate is being derived that is why it is so low?
in defense of teddy, nobody ever hear of teaser rates or loss leaders?
now that property market is down, loan book is not growing, no more new fishes that will bite. time to hike up the rates for the rest of the 22-23 years :)
anybody paying attention to the capital flows?
http://www.tradingeconomics.com/singapore/capital-flows
with capital outflows, will competition for funds drive up the SIBOR/SOR/FD rates?
in defense of teddy, nobody ever hear of teaser rates or loss leaders?
now that property market is down, loan book is not growing, no more new fishes that will bite. time to hike up the rates for the rest of the 22-23 years :)
anybody paying attention to the capital flows?
http://www.tradingeconomics.com/singapore/capital-flows
with capital outflows, will competition for funds drive up the SIBOR/SOR/FD rates?
I though the reason for capital outflows is because of the low interest rate in the first place. If the interest rate is higher, there will be more capital inflows.
In theory, a 1-month sibor for the next 12 months will be the current 12-month sibor (ie. fixed rate for next one year). Unless you are an expert in forecasting the swap curve over the next 12 months, it does makes sense to hold on to current floating loan with low spread.
If the current loan is at 1-month sibor + 0.85% for thereafter years, would you take the risk to refinance it at fixed rate for 2-3 years, and then take on the risk to re-finance again that will end up with a higher spread (more than 0.85%?
I would say the "Ouch" will apply to those:
If you have a floating + low spread, and you refinance it with Fixed Rate = ouch!
If you have a floating + low spread, and you refinance it with FHDR = ouch!
imho, i think those with low spread should resist the temptation to refinance to fixed rate. Is the current spread in today's market in region of 120bps?
proud owner
01-02-16, 17:32
I would say the "Ouch" will apply to those:
If you have a floating + low spread, and you refinance it with Fixed Rate = ouch!
If you have a floating + low spread, and you refinance it with FHDR = ouch!
imho, i think those with low spread should resist the temptation to refinance to fixed rate. Is the current spread in today's market in region of 120bps?
totally agree with you ...
Floating all the way ...
With the market slowing down so much, i am pretty sure, the banks' housing loan books have shrunk.
And this has always been one of the most profitable books in any bank.
Give it a little more time, even if rates go up a bit, banks will start to give some perks...
no matter what scenario, Floating rate never go wrong.
Agreed with you two!
Now now, anybody don't understand the rationale?
If don't understand, should consult proud owner or Ilikeu.
It is difficult to get such impartial advice where the advisor don't benefit and/or get anything in return.........
totally agree with you ...
Floating all the way ...
With the market slowing down so much, i am pretty sure, the banks' housing loan books have shrunk.
And this has always been one of the most profitable books in any bank.
Give it a little more time, even if rates go up a bit, banks will start to give some perks...
no matter what scenario, Floating rate never go wrong.
I would say the "Ouch" will apply to those:
If you have a floating + low spread, and you refinance it with Fixed Rate = ouch!
If you have a floating + low spread, and you refinance it with FHDR = ouch!
imho, i think those with low spread should resist the temptation to refinance to fixed rate. Is the current spread in today's market in region of 120bps?
MortgageGuru
01-02-16, 19:41
Agreed with you two!
Now now, anybody don't understand the rationale?
If don't understand, should consult proud owner or Ilikeu.
It is difficult to get such impartial advice where the advisor don't benefit and/or get anything in return.........
Time will tell if the low spread tagged to sibor you get helps you in the long run, in any case, citibank have taught alot of people lesson.
We will know in due course.
Bank drops their sibor spread from 0.9,0.8 and 0.7 currently when sibor keep rising for the past year.
Hi minority, you got double body???
You prata king ah. Say banks colluding with each other (to raise SIBOR) to screw consumers. Then when you realise interest rate has been so low for the past 7-8 years, now sing another tune. Really joker.
thomastansb
03-02-16, 12:38
I think in this forum, only 1 person is posting and replying. I am teddybear as well. Later, I will login as minority to reply.
Hi minority, you got double body???
Teddybear logic cannot be replicated or duplicated one. I am very sure you are not.
I think in this forum, only 1 person is posting and replying. I am teddybear as well. Later, I will login as minority to reply.
which bank gives sibor + 0.7% spread? 0.7% is for thereafter years?
Time will tell if the low spread tagged to sibor you get helps you in the long run, in any case, citibank have taught alot of people lesson.
We will know in due course.
Bank drops their sibor spread from 0.9,0.8 and 0.7 currently when sibor keep rising for the past year.
Fixed rate is only for 2 years or so... and not for the whole (or significant portion) tenor of the loan.
The fixed rate is derived from the swap curve and since it is for short term of about 2 years, the smart guys there are able to predict with fairly accurate projection, so it is already priced in.
Then you will end up in the mercy of the bank after the fixed rate and expose to the risk of an increased spread.
Unless you are in alternate asset investments where you can take USD LIBOR swap of say 10 years, then you can take a hedge against the interest rate movement as many things will not go accordingly to forecast/plan for such long period of 10 years.
Agreed with you two!
Now now, anybody don't understand the rationale?
If don't understand, should consult proud owner or Ilikeu.
It is difficult to get such impartial advice where the advisor don't benefit and/or get anything in return.........
proud owner
03-02-16, 22:49
NY FED just hinted No rate hike in March FOMC
steady... thumbs up.
NY FED just hinted No rate hike in March FOMC
just curious, how come not much interest in stanchart mortgage one?
people think their excess cash can give better returns other markets?
or simply most don't have spare cash after downpayment?
yes, i like stanchart.... for the mortgage one and also it offers 1-month sibor...
but then not much fund left after downpayment to make full use of the mortgage one... but i use it to collect rental to build it up slow n steady.
just curious, how come not much interest in stanchart mortgage one?
people think their excess cash can give better returns other markets?
or simply most don't have spare cash after downpayment?
Confused about what's the difference between SIBOR and SOR-pegged home loans in Singapore? Here's an interesting read. http://ow.ly/Ycb4z
Is the article still too confusing and what about a fixed rate package now that SIBOR and SOR are rising? Feel free to send me a PM if you're looking for cheaper source of financing.
proud owner
23-03-16, 01:33
Any idea how are the 2 and 3 mth SIBOR doing now ?
still going up ?
still anticipating rate hike ?
Any idea how are the 2 and 3 mth SIBOR doing now ?
still going up ?
still anticipating rate hike ?
didn't receive any letter of increment for past few months
3M SIBOR still at about 1.25%, the highest ever % since the anticipation of FED rate hike and weaker S$.........
BUT: NOW with NO FED rate hike and S$ appreciates from 1.470 to 1.359 per US$, 3M SIBOR didn't even drop!
So conclusion: SIBOR kelong! :tsk-tsk:
Any idea how are the 2 and 3 mth SIBOR doing now ?
still going up ?
still anticipating rate hike ?
proud owner
23-03-16, 17:02
3M SIBOR still at about 1.25%, the highest ever % since the anticipation of FED rate hike and weaker S$.........
BUT: NOW with NO FED rate hike and S$ appreciates from 1.470 to 1.359 per US$, 3M SIBOR didn't even drop!
So conclusion: SIBOR kelong! :tsk-tsk:
contracts already signed mah ,,,, banks just sit on it lor ...
just like oil price dropped so much ... we dont even see a similar drop in our petrol price ...
By right we should, except that the government raised petrol duty and pocketed the drop instead.............
IMO many of the factors causing high inflation in Singapore are actually policy-related, like raising GST, increase in petrol duty and commercial property rentals, jacking up hawkers stalls rental etc...........
contracts already signed mah ,,,, banks just sit on it lor ...
just like oil price dropped so much ... we dont even see a similar drop in our petrol price ...
proud owner
12-05-16, 20:29
As i expected and mentioned in the early part of the year ... that this is seasonal and due to chinese new year effect ... and that it should come off
still believe that going forward , one should continue to use Floating rate as opposed to Fixed rate....
3M SIBOR still at about 1.25%, the highest ever % since the anticipation of FED rate hike and weaker S$.........
BUT: NOW with NO FED rate hike and S$ appreciates from 1.470 to 1.359 per US$, 3M SIBOR didn't even drop!
So conclusion: SIBOR kelong! :tsk-tsk:
Again talk cock. either u are blind or a blatant liar
http://abs.org.sg/rates-sibor
3mth sibor 1.04%
http://www.straitstimes.com/business/economy/singapores-3-month-sibor-rate-slips-to-2-week-low-after-mas-holds-off-easing
What still bout 1.25% bullshit.
By right we should, except that the government raised petrol duty and pocketed the drop instead.............
IMO many of the factors causing high inflation in Singapore are actually policy-related, like raising GST, increase in petrol duty and commercial property rentals, jacking up hawkers stalls rental etc...........
WOW The RETARD HAVE SPOKEN AGAIN!!! So ehhhh u mean deflation means Singapore will be good and people will feel richer? WOW! Retard economics!!!!
minority,
Don't you come to lie here again!!!!!!
1.25% was on 23 March 2016, now is 13 May 2016!
When US$:S$ was previously at about 1.34 (like on 23 March 2016), SIBOR was only 0.5% !!!!!!!!!!!
SIBOR up very fast when US$ goes up, but down very slow when US$ drops quickly!!!!!!!!!!!!!
Again talk cock. either u are blind or a blatant liar
http://abs.org.sg/rates-sibor
3mth sibor 1.04%
http://www.straitstimes.com/business/economy/singapores-3-month-sibor-rate-slips-to-2-week-low-after-mas-holds-off-easing
What still bout 1.25% bullshit.
minority,
Don't you come to lie here again!!!!!!
1.25% was on 23 March 2016, now is 13 May 2016!
When US$:S$ was previously at about 1.34 (like on 23 March 2016), SIBOR was only 0.5% !!!!!!!!!!!
SIBOR up very fast when US$ goes up, but down very slow when US$ drops quickly!!!!!!!!!!!!!
don't play dumb lah. 3mth sibor will have daily fluctuation? WOW. which BULLSHIT BANK YOU GO TO?
minority,
Don't come here to talk cock and lie here again!
You 1 bloody idiot!
Now you are telling us that since 23 March 2016 to 13 May 2016 there is no change/revision in 3M SIBOR????????? What cock you are!!!!!!!!!! :middle-finger2:
don't play dumb lah. 3mth sibor will have daily fluctuation? WOW. which BULLSHIT BANK YOU GO TO?
minority,
Don't you come to lie here again!!!!!!
1.25% was on 23 March 2016, now is 13 May 2016!
When US$:S$ was previously at about 1.34 (like on 23 March 2016), SIBOR was only 0.5% !!!!!!!!!!!
SIBOR up very fast when US$ goes up, but down very slow when US$ drops quickly!!!!!!!!!!!!!
minority,
Don't come here to talk cock and lie here again!
You 1 bloody idiot!
Now you are telling us that since 23 March 2016 to 13 May 2016 there is no change/revision in 3M SIBOR????????? What cock you are!!!!!!!!!! :middle-finger2:
RETARD
don't talk cock lah! I show you proof there are fluctuation. So where is your PROOF? TALK IS SO CHEAP RETARD!
http://www.moneysmart.sg/home-loan/sor-trend
proud owner
16-05-16, 21:04
don't play dumb lah. 3mth sibor will have daily fluctuation? WOW. which BULLSHIT BANK YOU GO TO?
Actually yes.
Sibor ( similar Libor, Hibor, Tibor, etc) changes EVERY(bank)day.
In fact, it changes Throughout the day.
But for commercial rate fixing purpose, the SIBOR at 11am is used as a benchmark for the day itself.
You don't have to take minority here seriously since he is always lying and talking cock here for his own personal agenda and shooting himself in the foot with his non-sense.........
Actually yes.
Sibor ( similar Libor, Hibor, Tibor, etc) changes EVERY(bank)day.
In fact, it changes Throughout the day.
But for commercial rate fixing purpose, the SIBOR at 11am is used as a benchmark for the day itself.
don't play dumb lah. 3mth sibor will have daily fluctuation? WOW. which BULLSHIT BANK YOU GO TO?
Actually yes.
Sibor ( similar Libor, Hibor, Tibor, etc) changes EVERY(bank)day.
In fact, it changes Throughout the day.
But for commercial rate fixing purpose, the SIBOR at 11am is used as a benchmark for the day itself.
I agree there is a daily SIBOR rate. Thats a FACT . What I dont agree with the nut job is a 3mth SIBOR can change daily when he have take it up. Its call 3mth SIBOR for the obvious reason.
You don't have to take minority here seriously since he is always lying and talking cock here for his own personal agenda and shooting himself in the foot with his non-sense.........
dont talk cock lah. I show you a chart that sibor do fluctuate daily. but isnt it Obvious you retard when u take up ur 3 mth SIBOR u dont expect daily rate change. Even your 1mth SIBOR dont have daily rate change once you take you retard.!
WE know your bloody bullshit agenda
Actually yes.
Sibor ( similar Libor, Hibor, Tibor, etc) changes EVERY(bank)day.
In fact, it changes Throughout the day.
But for commercial rate fixing purpose, the SIBOR at 11am is used as a benchmark for the day itself.
errr there is no intra day for SIBOR, i.e. there is no "SIBOR rate at 10:26AM", that's why the rate is called a "FIXING". You just have one fixing one day.
It is merely a survey based rate, i.e. banks tell ABS that "as of 11AM this is the rate I think I can borrow for a reasonable amount", then ABS average out them and publish at 11:30, and declare this is is the FIXING of the day.
From Jan 2009 to until Jan 2015, USD:SGD stays below 1.50, and 3M SIBOR stays below 0.69%.
On Jan 2015, USD:SGD was 1.34 and 3M SIBOR was 0.42%.
However, from Feb 2015 onwards, SIBOR shot up to 1.2525% until March 2016, but USD:SGD is still below 1.38.
That speaks very much about the kelong of 3M SIBOR, as usual, 3M SIBOR drop very slowly when USD:SGD drop and stay low for very long while 3M SIBOR shoot up very fast the slightest sign that USD:SGD moves up................ :scared-1:
dont talk cock lah. I show you a chart that sibor do fluctuate daily. but isnt it Obvious you retard when u take up ur 3 mth SIBOR u dont expect daily rate change. Even your 1mth SIBOR dont have daily rate change once you take you retard.!
WE know your bloody bullshit agenda
Singdollar jumps against US dollar, Sibor and SOR weaken after Fed chief comments
PUBLISHED MAR 30, 2016, 2:19 PM SGT UPDATED MAR 30, 2016, 3:08 PM
Grace Leong
SINGAPORE - The Singapore dollar firmed sharply against the US dollar on Wednesday (March 30), while local interest rates slid further after US Federal Reserve chair Janet Yellen reiterated the need for the central bank to adopt a more cautious pace raising interest rates.
As at 2 pm, the US dollar was trading at 1.3534 to the Singdollar - its lowest since its close on July 13, 2015 - after ending at 1.3677 on Tuesday. The Malaysian ringgit firmed to 3.9395 against the greenback from 3.9976 on Tuesday, and 4.0102 on Monday.
The three-month swap offer rate (SOR), which is used to price commercial loans, fell to 0.90 per cent on Tuesday, a level last seen in July. The plunge in the SOR has been spectacular given that the 52-week high was hit less than three months ago at 1.76 per cent on Jan 13.
The three-month Sibor or Singapore interbank offered rate, which is used to price home loans, fell to 1.16 per cent on Wednesday, down from the year-high of 1.25 per cent on Jan 19.
Local interest rate declines have followed the rallying Singapore dollar, along with other Asian currencies, as they react to central banks' stimulus largesse.
"USD/SGD collapsed overnight as the USD tumbled and stumbled across the board. As with the other local currencies, the bearish USD signal from the Fed is likely to see further USD capitulation this week," Mr Stephen Innes, senior trader at OANDA Asia Pacific, said.
Citi Research economists downgraded their forecast for Fed tightening this year to only one hike, either in September or December, following Dr Yellen's dovish remarks, which appeared to contradict hawkish signals from several other Fed speakers since the FOMC meeting two weeks ago.
"Yellen's reiteration of this dovish message will help reduce uncertainty about the Fed's reaction function, and should more strongly anchor expectations for a dovish Fed even in the face of robust data in the short-run," Citi said.
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